Section 11: Month End Procedures

Transcription

1 Section 11: Month End Procedures This section details the reports needed and the final step necessary to complete the accounting month end process for all property types. In This Section Completing Month Ends 1 Month End Reports 4 Generating the Post Rent and HAP Report 5 Daily Activity Report 8 Open Batch Register 10 Aged Receivable Report (Tenant Balances) 11 Aged Receivable Report (Subsidy Balances) 13 Deposit Register 15 Transaction Exceptions Report 17 Affordable Rent Roll 19 Recertification Report 21 Birthday Report 23 Close Notes 25 Notes 26 All Rights Reserved HUD/ Blended Version

2 Completing Month Ends Yardi Voyager Section 11: HUD/Blended Month End Procedures Month End is the accounting period when all of the financial transactions that are entered into Yardi in a month are finalized. As a property manager, you will not be responsible for closing the property s month. But you are responsible for checking the accuracy of the information entered into Yardi for a month and printing reports, entering notes on the Aged Receivable Report, making copies of invoices, etc., to submit to NCR s Central Office each month. Mid-Month Data Review - PPG /Property Specific Forms The goal of the Mid Month Data Review is to provide a tool to facilitate the review of Yardi data mid-month. Waiting until Month End to complete a review of the data may be too late to correct an error in the current month and accounting period. Complete the Mid-Month Data Review between the 15 th and the 20 th of each month. If you identify any incorrect items using the Mid-Month Data Review, work to correct the issue. Contact the Help Desk Enter missing payments Complete past due work Sample All Rights Reserved Page 1 HUD/Blended Version

3 Month End Checklist - PPG/Property Specific Forms The Month End Checklist is a list of all the required reports and documents that should be submitted to NCR s Housing Accounting Department on a monthly basis. NOTE: The Month End Checklist is only a list of reports that should be submitted, not instructions for closing the month. A new Month End Checklist should be printed each month. Sample Yardi Month End Score Every month the accountant assigned to audit the property will check the data that has been entered into Yardi for accuracy, and then score the work that has been completed. This score will be given to the RPL for each property within one month after the accountant completes the score. Some of the items that are being scored include the following: Contract Rent and total revenue Security Deposits (Security Deposit Disposition Forms) Utility Reimbursements Cash Do payments entered into Yardi match bank deposits? Notes on the Aged Receivable Report Are all of the required reports and documents in the Month End Packet? To ensure that your property always receives a 100% for it s Month End Score, use the Mid-Month Data Review, the Month End Checklist and the Month End Report instructions in this guide to help identify what is important to verify. All Rights Reserved Page 2 HUD/Blended Version

4 Month End Close is scheduled for the second to last business day of the month. By 11:00 am eastern standard time the day of close, the Help Desk requests that all work for each property be completed. At 3:45 pm Eastern Standard Time that same day, the Help Desk will lock all users out of Yardi. This includes, but is not limited to All recertifications All move-ins and move-outs All payments entered Month End Reports printed After verifying that all of the work in Yardi has been completed is and accurate, go to the PPG/Property Specific Forms and print a Month End Checklist for your property. The Month End Packet should include the following items: Deposit Register Bank Deposit Slips/Remote Deposit Users Status Report Aged Receivable Report Subsidy Balances Aged Receivable Report Tenant Balances with notations for each balance Bad Debt Write Off Forms Accounts Receivable Write Off Form (Located on PPG) Tenant Concession Forms Request To Grant Concession (Located on PPG) Housing Authority Pay Detail (Only for properties that receive subsidy payments from a local Housing Authority) Security Deposit Disposition Forms for all Move outs and or Pet Deposits, refunded or not, taking place that month. Copies of invoices entered into E-Pay for the following accounts: 6340 Legal Expense 6342 Consulting Expense WARNING: Be sure to print a new Month End Checklist each month After printing all of the Month End Reports, Fax or Scan the month end packet and send it to the Housing Accounting Department. If faxing the Month End Packet, send the fax to the following number: (614) If scanning and ing the Month End Packet, send the packet to the following address: MEpacket@ncr.org All Rights Reserved Page 3 HUD/Blended Version

5 Month End Reports Yardi Voyager Section 11: HUD/Blended Month End Procedures The Reports in this section are created from the Yardi Left Side Menu. Click Reports, Month End Reports, and select the report you wish to print from the drop-down menu. Some reports are required in the Month End Packet, and some are just useful tools to assist with checking your property s data on a monthly basis. For all Month End Reports, select Reports, Month End Reports or Reports, Tenant Reports. All Rights Reserved Page 4 HUD/Blended Version

6 Post Rent and HAP Report Yardi Voyager Section 11: HUD/Blended Month End Procedures This report shows all Rent and Subsidy amounts that will be charged for the next HAP month. It should be used to review the charges before the Help Desk creates the next HAP Voucher. For Example: During the July Month End, review the September Rent and Subsidy charges. Report Requirement: Mid Month and Month End The Post Rent & HAP Report should be reviewed for accuracy each month. Check for any incomplete certifications on the Yardi Voyager Dashboard BEFORE you run your Post Rent & HAP Report. Check any ALERTS on the dashboard. Verify that all residents are listed. The Report Only field should ALWAYS be highlighted to ensure no charges are actually posted. This report is for viewing purposes only. If your property uses a Miscellaneous Accounting Request to collect Service Coordinator funds, go to Move-In Procedures Section 3 for instructions. For example: During July Month End create the September Request. From the Yardi Voyager Left Side Menu, select Reports, Month End Reports, Post Rent and HAP. NOTE: The required fields should be completed for you. If not, use the information listed on the next page to complete the filter screen. Complete the following fields on the Post Rent and HAP filter: All Rights Reserved Page 5 HUD/Blended Version

7 Property Property code will be automatically populated. Contract Leave blank. Tenant Leave blank. Rent Charge Enter RENT. EI Charge (Excess Income) Enter ERENT. HAP Charge Enter SUBRNT. UR Due Date Leave blank. UR Account Enter (Utility Reimbursements). UR Recovery Charge Enter URRECOVR. Show Prior Posted Leave blank. Current Verify that this is the HAP month for which the monthly charges are being reviewed. (For example: In July we are reviewing charges for the month of September.) Click PDF to display the report. A confirmation window will appear. Click Open. The Rent and HAP Pre-posting report will open as a PDF file in a separate window. All Rights Reserved Page 6 HUD/Blended Version

8 Review and verify the accuracy of the residents and Rent and Subsidy charges listed. All rent and subsidy charges are pulled directly from the last in effect for the resident. Outdated Cert means that an annual recertification should be completed for that resident for the coming year. Any adjustments (changes to Rent and Subsidy reflected on past HAP Vouchers) are listed. Move-in and move-out adjustments will not show on the Post Rent and HAP Report. They are posted during when the MI s and MO s are completed. See Monthly Posting Procedures Section 6 for more detail. Print a copy of the report; click the printer button on the top left side of the toolbar. To save a copy of the report, click the save button in the top left side of the toolbar. The Help Desk will complete the Post Rent and HAP Batch. Click the Back Button on the Internet Explorer Tool Bar to move back to the Yardi Dashboard. All Rights Reserved Page 7 HUD/Blended Version

9 Daily Activity Report The Daily Activity Report gives a snapshot of what work is due to be completed on a given day. Report Requirement: Daily, Weekly and Month End. From the Yardi Voyager Left Side Menu, select Reports, Month End Reports, Daily Activity Report. In the Daily Activity filter screen, complete the following field: Property Select a property code or leave as defaulted. Click Submit. Sample Daily Activity Report All Rights Reserved Page 8 HUD/Blended Version

10 Sections in this report include: Resident Exceptions Vacancy On Notice Pending Certification Showings Move In Move Out Lease Expiration Delinquency Work Orders (not currently tracked in Yardi) Alerts Unanswered Letters older than 7 days Unqualified Certifications BEFORE RUNNING YOUR MONTH END REPORTS: Review the Daily Activity Report. Verify that all Resident Exceptions that include Move In, Move Out, and Deposit Accounting are completed or addressed prior to the month end close. Resident Exceptions must be ZERO (0) before the accounting month end can close! All Rights Reserved Page 9 HUD/Blended Version

11 Open Batch Register The Open Batch Register will give a list of any unposted payment batches for the property. In order to make sure that the cash balance in Yardi is correct for the month, each batch reflected should either be completed and posted or deleted. Report Requirement: Month End Close From the Left-Side menu, select Reports, Month End Reports, Daily Activity Report. In the Open Batch Register filter screen, complete the following fields: Property Select from the list or leave as defaulted. Destination Leave as defaulted, Screen. Click Submit. Sample Open Batch Register: WARNING: If there are batches that have not been posted, the payment batches in Yardi may not match payments deposited in the bank. This could cause a point loss on your Yardi Month End Score. All Rights Reserved Page 10 HUD/Blended Version

12 Aged Receivable Report (Tenant Balances) The Aged Receivable Report Tenant Balances will show any residents that have balances on their accounts. This will report will also reflect the following: Amount owed or overpaid What charges are delinquent How long the resident had the balance Report Requirement: 7 th of the Month, Mid Month AND Month End Close From the Left Side Menu select Reports, Month End, Aged Receivable Report. In the Aged Receivable Report filter screen, complete the following fields: Property Select a property code or leave as defaulted. Unit Type Leave blank. Unit Leave blank Tenant Leave blank. Status Accept the default (Blank) A/R Account Prepay Account Trans through Enter the current month and year. Report Summary By Charge Code Exclude Units No Destination Screen Click Submit. NOTE: The accuracy of all data reflected on this report directly impacts the monthly financial information. It is imperative that it is reviewed and corrected frequently throughout the month and again at month end. All Rights Reserved Page 11 HUD/Blended Version

13 Sample Aged Receivables Report: Print the report by clicking on the printer icon at the top of the screen. Generate this report on the 7 th of each month and review it for delinquencies and prepaid items. Send out late rent notices where applicable. Generate this report in the middle of the month and look for persons who are still delinquent and identify residents with incorrect balances. Generate this report during month end. If the resident reflects a balance due or prepaid balance, please make a notation on the report giving at least two (2) of the following explanations for each balance: Problem or issue causing the balance. Expected date that this balance will clear. Action taken to rectify the balance. IT Helpdesk work-order number. The above should be identified for all balances on the report. Address any uncollectible balances (See the PPG under Bad Debt for more details). Send this report to the Central Office with your month end packet. All Rights Reserved Page 12 HUD/Blended Version

14 Aged Receivable Report (Subsidy Balances) The Aged Receivable Report Subsidy Balances reflects amounts that are due or have been overpaid by HUD or a local housing authority. Report Requirement: Month End Close From the Left-Side Menu, select Reports, Month End Reports, Aged Receivable Report. In the Aged Receivable Report filter screen, complete the following fields: Property Select a property code or leave as defaulted. Unit Type Leave blank. Unit Leave blank. Tenant Leave blank. Status Leave as defaulted (blank). A/R Account Prepay Account Trans through Enter the current month and year. Report Summary By Resident Exclude Units No Destination Screen Click Submit. NOTE: The accuracy of all data reflected on this report directly impacts the monthly financial information. It is imperative that it is reviewed at month end. All Rights Reserved Page 13 HUD/Blended Version

15 Sample Aged Receivable Report Subsidy Balances Generate this report at the end of the month. Print the report by clicking on the printer icon at the top of the screen. Check the accuracy of each delinquent or prepaid balance. If an item is in error, contact the Help Desk to correct the balance. Send this report to the Central Office with your month end packet. All Rights Reserved Page 14 HUD/Blended Version

16 Deposit Register The Deposit Register reflects all payment batches and the detail within a batch, that were entered and posted into Yardi during a given month. Report Requirement: Mid Month and Month End. From the Left-Side Menu select Reports, Month End Reports, Deposit Register In the Deposit Register filter screen, complete the following fields: Property Choose property from the list or leave as defaulted. Bank Enter NCRGhost. Deposit Dates Enter the beginning of the current month and date of close. Beg Deposit# - Leave blank. End Deposit# - Leave blank. Deposit Type Leave as defaulted. Destination Leave as defaulted. Click Submit. All Rights Reserved Page 15 HUD/Blended Version

17 Sample Deposit Register: Print this report by either single right-clicking and selecting Print, or by clicking Excel and clicking the Print Icon. Review this report mid month and during month ends. Compare the report to the User Deposit Status Report or the Detail By Deposit Report/s from the Remote Scanner System. Each bank deposit should have a matching Yardi batch. Verify that the HAP Payment has been posted. (If the payment was received) Verify that the amount posted matches the amount paid. If applicable, verify that the housing authority payment has been entered and matches the housing authority payment. If the amounts on this report do not match the bank deposits, stop and identify the issue. If a correction is made, reprint this report. Warning: If a deposit has been made and not entered and posted into Yardi, points will be lost on your Month End Score. If the Yardi batches do not match the bank deposits, points will be lost on the month end score. Send this report to the Central Office with your month end packet. All Rights Reserved Page 16 HUD/Blended Version

18 Transaction Exceptions Report The Transactions Exceptions Report details all accounting exceptions that exist for the current month. Report Requirement: Month End From the Left-Side Menu select Reports, Tenant Reports, Transaction Exceptions Report. Complete the following fields in the Transaction Exceptions section: Property Select a property code or leave as defaulted. Tenant Leave blank. Include Leave as All to view all transaction exceptions. Post Range Enter the current month and year in each field. Revenue Acct Beg Enter Revenue Acct End Enter AR Acct Beg Enter AR Acct End Enter Destination Leave as defaulted, Screen. Click Submit. All Rights Reserved Page 17 HUD/Blended Version

19 Sample Transaction Exceptions Report: If any transaction types appear here, call the IT Help Desk! If you have Transaction Exceptions, (other than Payable to AR Acct ), the Help Desk will not be able to close your month properly. This will cause problems for your property in the following month. If any items appear on this report, you must correct them. Call the IT Help Desk for assistance. All Rights Reserved Page 18 HUD/Blended Version

20 Affordable Rent Roll The Affordable Rent Roll is a report that will show a variety of information on the resident s current status. See the list below for further details: Unit Number Bedroom Size Tenant Name Subsidy Program and Contract Number The last recertification in effect for each resident and it s effective date Gross Rent, Contract Rent and Utility Allowance Tenant Rent and Subsidy TTP If Applicable, Utility Reimbursement Report Requirement: Mid Month AND Month End. Review this report Mid Month and at the end of the month. From the Left-Side Menu select Reports, Month End Reports, Affordable Rent Roll. In the Affordable Rent Roll filter screen, complete the following fields: Property Select a property code or leave as defaulted. Tenant Leave blank. As of Date Type the current date. Sort By Leave as defaulted, Unit. Destination Leave as defaulted, Screen. Click Submit. All Rights Reserved Page 19 HUD/Blended Version

21 Sample Affordable Rent Roll: Run this report at the middle of the month and at Month End. Verify the following: All current residents are listed. Vacant units are TRULY vacant. Every Resident should have an amount in the Tenant Rent and/or Subsidized Rent column. The Gross Rent/Contract Rent should match the Rent Schedule currently in effect for the property. The Utility Allowance should match the Rent Schedule currently in effect for the property. If applicable - Every resident with an amount in the Utility Reimbursement Column has (or will have) a Utility Reimbursement Voucher entered into EPay to be paid at the beginning of the next month. Print this report by clicking the Printer icon in the toolbar. All Rights Reserved Page 20 HUD/Blended Version

22 Recertification Report Yardi Voyager Section 11: HUD/Blended Month End Procedures With the Recertification Report, you can view all recertifications due within the next 120 days. This report also shows the dates recertification notices were sent and the date of the tenant s response. Report Requirement: Mid Month and Month End From the Left-Side menu select Reports, Month End Reports, Recertification Report. In the Annual Recertification Report filter screen, complete the following fields: Property Select a property code or leave as defaulted. Tenant Leave blank. Contract Leave blank. Status Leave blank. Next AR Date Enter the first of the month of the next month. For example, if you are closing July 2010 enter 08/01/10. To Enter the end of the month, four (4) months after the Next AR Date effective date. For example, if you are closing July 2010, enter 12/31/10 to capture all notices due to be sent in the next 120 days. Sort Select Next AR. Force Match Leave blank. Destination Select Screen (optimized for landscape printing). Click Submit. All Rights Reserved Page 21 HUD/Blended Version

23 Sample Recertification Report: Click on any Resident Code to view that resident s record. Right-click anywhere inside the report screen to print it. All Rights Reserved Page 22 HUD/Blended Version

24 Birthday Report The Birthday Report is a report that will show all resident s birthdays. This report is created to enable us to view any residents who will be turning eighteen (18) in the next month. See the PPG EIV Policy for more details. Requirement: Month Ends From the Left-Side menu select Reports, Tenant Reports, Birthday Report. Property: Accept the default. Contract: Leave blank. Status: Current. Birthday Month: Next month. Birthday Between: 1 st and last day of next month. Destination: Screen. Click Submit. All Rights Reserved Page 23 HUD/Blended Version

25 Review this report to find any household members who may be turning eighteen (18) in the next month. See the PPG and the EIV policy for details on how to handle a household member newly turning eighteen (18). All Rights Reserved Page 24 HUD/Blended Version

26 Close Notes Check your work in Yardi throughout the month. Do not wait until the day of close to check the information that has been entered into Yardi. If you find an issue or a problem on one of the Yardi Reports during Month End and take action to correct the problem, be sure to reprint the affected report. Open a Help Desk issue if you find a problem that you cannot correct or if you are unsure of a balance. The Help Desk will send a reminder each month giving the upcoming close dates. Print a new Month End Checklist each month. Be sure to have all Yardi work completed for a month by 11:00 am Est. This includes printing the close reports. Yardi will be locked at 3:45 pm Est. on the day of close. Close will be completed the last business day of the new month by the Help Desk. The Month End Packet is due to the Accounting Department by the 2 nd business day of the next month. The Help Desk will re-open Yardi on the first business day of the next month. All Rights Reserved Page 25 HUD/Blended Version

27 Notes: All Rights Reserved Page 26 HUD/Blended Version